Introduction/Overview
Exide Life Prospering Life Plus is a Unit Linked Insurance plan which aims to maximize wealth by capital market participation and at the same time, provide life insurance coverage
Guaranteed Tax Savings
Under sec 80C & 10(10D)₹ 1 Crore
Invest 10k Per Month*Zero LTCG Tax
Unlike 10% in Mutual Funds*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
The following 6 funds are available for investment
|
Minimum |
Maximum |
Entry Age (Last Birthday) |
0 year |
55 years |
Maturity Age (Last Birthday) |
18 years |
75 years |
Policy Term (PT) in years |
10 |
20 |
Premium Paying Term (PPT) in years |
5 pay, 10 pay or Regular pay |
|
Premium paying Frequency |
Annual, monthly |
|
Yearly Premium |
24,000 |
No limit |
Sum Assured |
10*annual premium for ages<45 yrs. and 7*annual premium for ages>=45 years |
Annual Premium in Rupees and Benefit Illustration
Age (yrs.) |
Premium |
Policy term (yrs.) |
PPT (yrs.) |
Fund Value @ 4% |
Fund Value @ 8% |
35 |
96,000 |
10 |
5 |
502,322 |
691,202 |
40 |
60,000 |
15 |
10 |
688,677 |
10,46,661 |
40 |
48,000 |
15 |
15 |
801,400 |
11,19,297 |
45 |
36,000 |
20 |
20 |
855,082 |
13,40,510 |
Grace Period: 15 days grace is allowed for premium payment in monthly mode and 30 days in annual mode failing which the policy lapses
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Linked Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history and submit KYC documents.